Brad Clousing has sold a 101 Bed Sarasota, Florida, Skilled Nursing Facility. This was the only skilled nursing facility owned by the Seller, a local non-profit organization. The Seller will continue to own and operate the adjacent assisted living facility and age-restricted apartments. Although occupancy has been an issue recently(61%), the facility was still profitable. The facility is in good physical condition and is competitive in the local market. The Buyer is a regional owner/operator of 6 other SNF’s and plans to increase census and improve operating efficiencies. With the quality physical plant coupled with the favorable Sarasota market, the Buyer should be able to generate strong returns. The 44,651 sq. ft facility was built in 1967 with an addition in 1990. Brad was able to generate multiple offers by actively marketing the facility to qualified Buyers. Thje final sales price was $4,975,000 ($49,257/bed) which translated into a cap rate of 6.8% and a GIM of .9x. For additional information, please contact Brad Clousing at 630/858-2501 or clousing@slibinc.com
